CBRE Appointed as Sole Agent for Sale of Entire Office Building at No. 158, Wai Yip Street, Kwun Tong via Public Tender

CBRE has been appointed by the owner for the tender sale of the entire office building at No. 158 Wai Yip Street, Kwun Tong. The market value of the property is over HK$200 million (approximately HK$4,423 per sq. ft., subject to verification by the owner) and will be sold via public tender. The tender will close at 12:00 noon on Friday, August 22, 2025.

The Vendor acquired and revitalised the building in 2017 with an investment of approximately HK$450 million, the entire building, including the site and naming rights, is now being offered for sale. The 10-storey building (including rooftop) has a total gross floor area of approximately 45,218 sq. ft., featuring a modern glass curtain wall façade and a grand lobby with a ceiling height of 11 meters. Standard floor-to-ceiling height is around 3.8 meters, with the first and second floors offering approximately 4.5 meters. The property includes parking spaces and a dedicated drop-off area. The layout is flexible and includes a rooftop area of about 2,700 sq. ft., making it ideal for use as a corporate headquarters. Currently, all floors except one are leased, with an occupancy rate approximately 90%, providing investors with stable and attractive rental income.

Zac Wong, Senior Director, Capital Markets, CBRE Hong Kong, said “Earlier this year, CBRE facilitated a successful public tender for a property on Hung To Road in Kwun Tong, which received strong market response. Additionally, an industrial property at No. 47 Hung To Road was recently sold for HK$250 million. No. 158 Wai Yip Street has already been revitalised from an industrial building into a commercial property, with nearly HK$100 million invested in renovations, allowing buyers to move in immediately. Investors can expect exceptional returns. Moreover, quality properties in the area continue to attract end-users. For example, Lens Technology acquired over 17,000 sq. ft. at One Harbour Square for HK$163 million, or over HK$9,500 per sq. ft. In comparison, the asking price for No. 158 Wai Yip Street is very attractive at just over HK$4,000 per sq. ft., which is expected to draw strong interest from both end-users and investors.”

Murphy Dik, Associate Director, Capital Markets, CBRE Hong Kong, added: “Hong Kong’s healthcare and education sectors are expanding rapidly. The area is already home to several hospitals, schools, and professional education institutions, many of which are actively expanding. With a total GFA of approximately 45,218 sq. ft., No. 158 Wai Yip Street can meet the diverse needs of educational institutions for headquarters and office space. Demand for education-related real estate in the area is strong. For instance, Baptist Hospital is redeveloping an industrial building into the Baptist Eastern Kowloon Medical Centre, highlighting the transformation potential of such properties. In June, the Urban Renewal Authority and the Hong Kong University of Science and Technology signed a memorandum of understanding to establish off-campus teaching and research space in the non-residential portion of the ‘Kwun Tong Town Centre 2.0’ project. This reflects the district’s growing maturity and its appeal to a wide range of industries.”

For any enquiries regarding this Property, please contact Zac Wong, Senior Director, Capital Markets (tel: +852 9583 4716) or Murphy Dik, Associate Director, Capital Markets (tel: +852 9819 4953), CBRE Hong Kong. 

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Property Advertising Number: CBRE-CM-ADV5282